Russia's Novak says talks needed in May to decide OPEC+ next steps

Russian Energy Minister Alexander Novak attends a session of the Russian Energy Week international forum in Moscow, Russia October 3, 2018. REUTERS/Sergei Karpukhin

MOSCOW (Reuters) - Russian Energy Minister Alexander Novak said on Sunday that talks need to be held in May to decide on the future steps of an oil output pact between OPEC members and other major oil exporters known as OPEC+.

Novak’s comment was cited in a statement published by the energy ministry of Azerbaijan, ahead of a meeting of OPEC and non-OPEC oil-producing countries scheduled for Monday in Baku.

Reporting by Nailia Bagirova and Vladimir Soldatkin; Writing by Polina Ivanova; Editing by